MIRA INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GULSHAN POLYOLS LIMITED |
|
|
|
|
Registered
Office : |
9th KM, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.10.2000 |
|
|
|
|
Com. Reg. No.: |
20-034918 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.144.742 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24231UP2000PLC034918 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG05217C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG3954F |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. The company’s shares are listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Calcium Carbonate and
Sorbitol. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 7300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
reputed clientele from the diverse industries, diversified product profile and
favorable liquidity profile. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official estimate
of 4.9 % annual growth and compared with 4.5 % in the last fiscal year.
However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7
% of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or
4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer
Flipkart has acquired fashion portal Myntra as it prepares to battle with the
rapidly expanding India arm of the global e-commerce giant Amazon. The company
raised $ 210 million from Russian Investment firm DST Global which has also
invested in companies like Facebook, Twitter and Alibaba Group.
General Motors will start
exporting vehicles from its Talegaon plant near Pune in the second half of
2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value shot up 40 % in a year to
$ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the
third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the
company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went
on to lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala Police had
arrested Pinckney and two company directors on charges of financial irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the Boston
Consulting Group, sterns from fears that the first are providing trade secrets
to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A |
|
Rating Explanation |
Adequate degree of safety. It carry low
credit risk. |
|
Date |
17.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1 |
|
Rating Explanation |
Highest degree of safety. It carry lowest
credit risk |
|
Date |
17.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Rajesh Agarwal |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-9810167061 |
|
Date : |
18.07.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
9th KM, Jansath Road, Muzaffarnagar-251001, Uttar Pradesh,
India |
|
Tel. No.: |
91-131-3295880 / 3295888 |
|
Fax No.: |
91-131-2661378 |
|
E-Mail : |
nishagupta@gulshanindia.com |
|
Website : |
|
|
|
|
|
Corporate Office and Investor Cell : |
G-81, Preet Vihar, Delhi – 110092, India |
|
Tel. No.: |
91-11-49999200 |
|
Fax No.: |
91-11-49999202 |
|
|
|
|
Factory 2 : |
Plot No. 762, Jhagadia Industrial Estate, Bharuch-393110, Gujarat,
India |
|
Tel. No.: |
91-2645-226044/ 309585 |
|
Fax No.: |
91-2645-226045 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Plot No. 769/2, G.I.D.C. Industrial Estate, Distract Bharuch – 393110,
Gujarat, India |
|
|
|
|
Factory 4 : |
Village Rampur Majri, Dhaula Kaun, District Sirimour (H.P.) - 173001 |
|
Tel. No.: |
91-1704-257561 |
|
Fax No.: |
91-1704-257560 |
|
|
|
|
Factory 5 : |
Plot No.-10, 11
and Part of 9, Boregaon Industrial Growth Centre, Tehsil - Sausar, District
Chhindwara, Madhya Pradesh, India |
|
Tel. No.: |
91-7165-226020 |
|
|
|
|
Factory 6 : |
E-21 and 22,
RIICO Growth Centre, Phase-II, Abu Road,
District Sirohi, Rajasthan, India |
|
|
|
|
Factory 7 : |
On-site Plant of PCC, Patiala, Punjab, India |
|
|
|
|
Marketing Office: |
Located at: ·
Mumbai ·
Delhi |
DIRECTORS
As on 31.03.2013
|
Name : |
Dr. Chandra Kumar Jain |
|
Designation : |
Chairman cum Managing Director |
|
Age : |
64 years |
|
Qualifications : |
B.Sc., Ph.D. (Chemistry) |
|
Experience : |
41 Years |
|
|
|
|
|
|
|
Name : |
Mr. K K Pandey |
|
Designation : |
Independent Director |
|
|
|
|
|
|
|
Name : |
Mr. A K Maheshwari |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Ajay Jain |
|
Designation : |
Independent Director |
|
Age : |
52 years |
|
Qualifications : |
FCA, ACS |
|
Experience : |
26 Years |
|
|
|
|
Name : |
Mr. A K Vats |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Ms. Arushi Jain |
|
Designation : |
Whole Time Director |
|
Age : |
35 Years |
|
Qualifications : |
BBA, Master in Marketing from Baruch, CUNY, USA |
|
|
|
|
Name : |
Ms. Aditi Pasari |
|
Designation : |
Whole Time Director |
|
Age : |
34 Years |
|
Qualifications : |
MBA from Cardiff University, (UK) |
|
|
|
|
Name : |
Mr. S. K. Tewari |
|
Designation : |
Whole Time Director |
KEY EXECUTIVES
|
Name : |
Ms. Nisha Gupta |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Rajesh Agarwal |
|
Designation : |
Chief Financial Officer |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
No.
of Shares |
Percentage
of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1528425 |
18.09 |
|
|
4374288 |
51.78 |
|
|
204812 |
2.42 |
|
|
204812 |
2.42 |
|
|
6107525 |
72.29 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
6107525 |
72.29 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
200 |
0.00 |
|
|
200 |
0.00 |
|
|
|
|
|
|
278740 |
3.30 |
|
|
|
|
|
|
1711528 |
20.26 |
|
|
287421 |
3.40 |
|
|
62990 |
0.75 |
|
|
62990 |
0.75 |
|
|
2340679 |
27.71 |
|
Total
Public shareholding (B) |
2340879 |
27.71 |
|
Total
(A)+(B) |
8448404 |
100.00 |
|
(C) Shares
held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
8448404 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Calcium Carbonate and
Sorbitol. |
|
|
|
|
Exports : |
|
|
Products : |
Sorbitol |
|
Countries : |
·
Brazil ·
Nigeria ·
South Africa |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
·
Colgate Palmolive ·
Dabur India Limited ·
Hindustan Unilever Limited ·
Wipro, ITC Limited ·
Amar remedies ·
Asian Paints ·
Berger Paints ·
Kansai Nerolac ·
Shalimar Paints ·
Pidilite industries ·
Metzeler Automotive Profiles ·
Britannia Industries ·
Candico ·
Times Food ·
Yahoo foods ·
Henkel Teroson India Limited ·
Cadila ·
IPCA Laboratories ·
Pfizer ·
Torrent Pharma ·
Novartis ·
Emerk ·
Glenmark Pharma ·
RPG lifeline sciences ·
AstraZeneca ·
Cipla ·
Sanofi Aventis |
||||||||||||||||||||||||||||||||||
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|
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|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||||||||||||||
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|
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Bankers : |
Bank of Baroda, Parliament Street, Main Branch, Delhi, India |
||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||
|
Facilities : |
Long Term Borrowings Nature of security for secured borrowings are given below:
The aggregate amount of loans under each head
guaranteed by Directors or others are given below:
Short Term
Borrowings The Working Capital
Loan is secured by the Hypothecation of Present and Future stock of Raw
Materials, Stores, Stock in Process, Chemicals and Consumables, Fuels,
Packing, Finished Goods etc. and Book Debts of the Company. The Loan is further secured by way of a Second Charge on Fixed Assets
of the Company, personal gurantee of Promoter Director of the Company. The
aforesaid loan is also secured by the Corporate gurantee of M/s Gulshan
Holding Private Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shahid and Associates Chartered Accountants |
|
Address : |
34/28, South Civil Lines, Near Maruti Charam Kanta, Arya Samaj Road,
Muzaffarnagar - 251001, Uttar Pradesh, India |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.144.742 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.5/- each |
Rs.225.000Millions |
|
250000 |
0% Redeemable Preference Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
1450000 |
8% Redeemable Preference Shares |
Rs.100/- each |
Rs.145.000 Millions |
|
|
Total |
|
Rs.372.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8448404 |
Equity Shares |
Rs.5/- each |
Rs.42.242 Millions |
|
1025000 |
8% Redeemable Preference Shares |
Rs.100/- each |
Rs.102.500 Millions |
|
|
Total |
|
Rs.144.742
Millions |
Reconciliation of
Shares outstanding at the beginning and at the end of year are given below:
|
Equity Shares |
Number
of Shares |
|
Equity Shares outstanding at the beginning of the year |
8448404 |
|
Add: Equity Shares Issued during the year - (a) |
0 |
|
Less: Equity Shares
bought back/ redeemed during the year |
0 |
|
Equity Shares outstanding at the end of the year |
8448404 |
a. During the year ended 31st March, 2009, the Company has allotted 2135407 Equity Shares of Rs.5/- each fully paid-up to the shareholders of erstwhile Gulshan Sugars and Chemicals Limited pursuant to the Scheme of Amalgamation without payment being received in cash.
b. During the year ended 31st March, 2011, the Company has allotted 100697 Equity Shares of Rs.5/- each fully paid-up to the shareholders of erstwhile Salil Industries Limited pursuant to the Scheme of Amalgamation without payment being received in cash.
c. Terms of Authorised Preference Share Capital has been changed in last annual general meeting i.e. 25-09-2010 in which Dividend rate varying from 0% to 10% and redemption period varing from 3rd year to maximum 15th year from the date of the issue.
d. Terms of redemption of 1025,000 issued Preference Share @ 100/- each has been fixed, the period of redemption will be 12th year from the date of its issue on 8% Dividend rate effective from 1st April, 2011.
Detail of shareholder holding more than 5 percent shares of the Company
as on reporting date are given below
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Gulshan Holding Private Limited |
4084790 |
48.35% |
|
Dr. C.K. Jain |
957022 |
11.33% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
144.742 |
144.742 |
144.742 |
|
(b) Reserves & Surplus |
1,668.261 |
1,431.333 |
1,223.062 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1,813.003 |
1,576.075 |
1,367.804 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
438.857 |
105.602 |
135.689 |
|
(b) Deferred tax liabilities (Net) |
72.320 |
51.149 |
63.125 |
|
(c) Other long term liabilities |
0.000 |
21.000 |
21.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
511.177 |
177.751 |
219.814 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
356.052 |
213.253 |
221.172 |
|
(b) Trade payables |
177.834 |
129.674 |
114.334 |
|
(c) Other current
liabilities |
152.250 |
48.077 |
41.683 |
|
(d) Short-term provisions |
177.510 |
147.710 |
106.452 |
|
Total Current Liabilities (4) |
863.646 |
538.714 |
483.641 |
|
|
|
|
|
|
TOTAL |
3,187.826 |
2,292.540 |
2,071.259 |
|
|
|
|
|
|
I.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,470.354 |
980.092 |
1,056.748 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
18.625 |
63.888 |
34.356 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.748 |
4.748 |
4.748 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.411 |
41.093 |
42.493 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1,512.138 |
1,089.821 |
1,138.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
120.000 |
0.000 |
0.000 |
|
(b) Inventories |
433.400 |
255.743 |
233.868 |
|
(c) Trade receivables |
599.268 |
550.828 |
385.236 |
|
(d) Cash and cash
equivalents |
324.692 |
283.596 |
252.323 |
|
(e) Short-term loans and
advances |
198.328 |
112.552 |
61.487 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1,675.688 |
1,202.719 |
932.914 |
|
|
|
|
|
|
TOTAL |
3,187.826 |
2,292.540 |
2,071.259 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3,252.176 |
2823.120 |
2728.137 |
|
|
|
Other Income |
14.515 |
20.621 |
11.186 |
|
|
|
TOTAL (A) |
3,266.691 |
2843.741 |
2739.323 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of
Stock-in-Trade |
1,258.372 |
1.436 |
9.626 |
|
|
|
Cost of
Materials Consumed |
0.054 |
1099.558 |
1061.654 |
|
|
|
Changes in
Inventories |
(20.319) |
(22.076) |
24.596 |
|
|
|
Employee
Benefits Expenses |
118.835 |
100.256 |
92.218 |
|
|
|
Manufacturing
Expenses |
934.316 |
784.450 |
803.091 |
|
|
|
Other Expenses |
494.847 |
409.162 |
366.489 |
|
|
|
Exceptional
Items |
(6.315) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
2,779.790 |
2372.786 |
2357.674 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
486.901 |
470.955 |
381.649 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.523 |
42.646 |
32.745 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
451.378 |
428.309 |
348.904 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
135.432 |
142.072 |
132.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
315.946 |
286.237 |
216.108 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
44.715 |
44.943 |
36.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
271.231 |
241.294 |
179.131 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
888.267 |
711.050 |
593.723 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
30.000 |
40.000 |
|
|
|
Dividend on equity shares |
|
24.547 |
12.274 |
|
|
|
Dividend on preference shares |
|
9.530 |
9.530 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
888.267 |
711.050 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
263.033 |
313.176 |
|
|
TOTAL EARNINGS |
NA |
263.033 |
313.176 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Stores & Spares |
NA |
4.735 |
1.173 |
|
|
TOTAL IMPORTS |
NA |
4.735 |
1.173 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.97 |
27.43 |
20.07 |
|
Notes:
1. The aforesaid results were taken on record by the Audit committee and Board at their meetings held on May 28, 2014.
2. The Company is engaged in manufacturing of only Chemicals, hence there are no reportable segment.
3. The Board of Directors have recommended dividend @ 8% (Rs.8/- per preference share) to the preference shareholders.
4. The Board of Directors have recommended dividend @ 50% (Rs.2.50 per equity share) to the equity shareholders.
5. Figures have been regrouped/rearranged wherever considered necessary.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
8.30 |
8.49 |
6.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.71 |
10.14 |
7.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.98 |
12.87 |
10.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.18 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.44 |
0.20 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
2.23 |
1.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
144.742 |
144.742 |
144.742 |
|
Reserves & Surplus |
1223.062 |
1431.333 |
1668.261 |
|
Net
worth |
1367.804 |
1576.075 |
1813.003 |
|
|
|
|
|
|
long-term borrowings |
135.689 |
105.602 |
438.857 |
|
Short term borrowings |
221.172 |
213.253 |
356.052 |
|
Total
borrowings |
356.861 |
318.855 |
794.909 |
|
Debt/Equity
ratio |
0.261 |
0.202 |
0.438 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
2,728.137 |
2,823.120 |
3,252.176 |
|
|
|
3.482 |
15.198 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
2,728.137 |
2,823.120 |
3,252.176 |
|
Profit |
179.131 |
241.294 |
271.231 |
|
|
6.57% |
8.55% |
8.34% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Deposits |
NA |
34.547 |
|
Total |
NA |
34.547 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10436439 |
18/06/2013 |
367,000,000.00 |
Bank
of Baroda |
Parliament
Street, Main Branch, New Delhi, Delhi - 110001, India |
B79441903 |
|
2 |
10290400 |
18/06/2013 * |
127,000,000.00 |
Bank
of Baroda |
Parliament
Street, Main Branch, New Delhi, Delhi - 110001, India |
B79442703 |
|
3 |
90095242 |
27/08/2005 * |
43,500,000.00 |
Bank
of Baroda |
Corporate
Banking Branch, 16; Sansad Marg, Delhi - 110001, India |
- |
|
4 |
90095669 |
18/06/2013 * |
375,100,000.00 |
Bank
of Baroda |
Parliament
Street, Main Branch, New Delhi, Delhi- 110001, India |
B79440699 |
|
5 |
90269093 |
06/01/1999 * |
69,000,000.00 |
Bank
of Baroda |
Industrial
Finance Branch, 16; Sansad Marg, New Delhi, Delhi - 110001, India |
- |
|
6 |
90279183 |
08/10/2008 * |
95,000,000.00 |
Bank
of Baroda |
16,
Parliament Street, Ground Floor, Parliament Street Branch,, Delhi, Delhi -
110001, India |
A48753065 |
FIXED ASSETS:
·
Land and Site Development
·
Building
·
Plant and Machinery
·
Office Furniture and Equipment’s
·
Vehicles
·
Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.18 |
|
UK Pound |
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
60 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.